Unlike policies, which can be configured in both domain and local GPOs, preferences can be configured only in domain GPOs. This means that if you open the Local Computer Policy on a computer by running gpedit.msc, you will not see a Preferences node under Computer Configuration or User Configuration.
The above tip was excerpted from Mitch Tulloch's book Training Guide: Installing and Configuring Windows Server 2012 from Microsoft Press.
Mitch is a nine-time recipient of the Microsoft Most Valuable Professional (MVP) award and a widely recognized expert on Windows administration, deployment and virtualization. For more information see http://www.mtit.com